Supply Chain Management
Supply Chain Management:
Wegmans and Grocery Store Supply Chains
Roger Vance
Busi 411-002
When managing a large company or corporation, having firm control and efficient use of the supply chain is key to success. Supply chain management as defined by Stevenson (2011), “is the strategic coordination of business functions within a business organization and throughout its supply chain for the purpose of integrating supply and demand management” (p. 664). Having an efficient supply chain will decrease costs and increase revenues in your business as well as cement and secure the position of your company in the industry with the formation of good long term supplier relationships. There are many different components of the supply chain that must be analyzed and tweaked to achieve near-maximum efficiency. Once this is done, the next step that needs to be taken in order to improve the supply chain 's efficiency is to look at different strategies or methods that could be applied to the companies processes as a whole to optimize effectiveness, reliability, quality, or whatever is currently lacking. Other than having an overall Lean or Agile strategy for your supply chain, there are other things that can be added to a companies processes to optimize performance such as the introduction of new technologies or the central or decentralization of different departments. With so many different methods, options, and strategies to contend with on this matter, a business that has a large quantity of products along with a large number of suppliers would be ideal to see how these things impact not only a business, but an entire industry. An examination of the Wegman 's grocery chain will also show the significance of maintaining an efficient supply chain. An in depth look and understanding of the supply chain components is essential for all of these improvements to be implemented successfully. Supply chain management includes the
Wegmans and Grocery Store Supply Chains
Roger Vance
Busi 411-002
When managing a large company or corporation, having firm control and efficient use of the supply chain is key to success. Supply chain management as defined by Stevenson (2011), “is the strategic coordination of business functions within a business organization and throughout its supply chain for the purpose of integrating supply and demand management” (p. 664). Having an efficient supply chain will decrease costs and increase revenues in your business as well as cement and secure the position of your company in the industry with the formation of good long term supplier relationships. There are many different components of the supply chain that must be analyzed and tweaked to achieve near-maximum efficiency. Once this is done, the next step that needs to be taken in order to improve the supply chain 's efficiency is to look at different strategies or methods that could be applied to the companies processes as a whole to optimize effectiveness, reliability, quality, or whatever is currently lacking. Other than having an overall Lean or Agile strategy for your supply chain, there are other things that can be added to a companies processes to optimize performance such as the introduction of new technologies or the central or decentralization of different departments. With so many different methods, options, and strategies to contend with on this matter, a business that has a large quantity of products along with a large number of suppliers would be ideal to see how these things impact not only a business, but an entire industry. An examination of the Wegman 's grocery chain will also show the significance of maintaining an efficient supply chain. An in depth look and understanding of the supply chain components is essential for all of these improvements to be implemented successfully. Supply chain management includes the
References: Awards | Wegmans. (2013, January). Retrieved from http://www.wegmans.com/webapp/wcs/stores/servlet/ProductDisplay? storeId=10052&partNumber=UNIVERSAL_3407 Garry, M. (2009, May 18). Wegmans Looks to Its Role in Supply Chain Snafus Supplier News content from Supermarket News. Retrieved from http://supermarketnews.com/supplier- news/wegmans-looks-its-role-supply-chain-snafus Placement Statistics | MIT Supply Chain Management. (2012). Retrieved from Massachusetts Institute of Technology website: http://scm.mit.edu/recruitment/placement_statistics Shrink rapped America 's food retailers should wage a tougher war on waste. (2008, May 18). The Economist. Retrieved from http://www.economist.com/node/11376872 Stevenson, W. (2011). Operations management. (11 ed., Vol. 148). New York: McGraw- Hill/Irwin.